velvetechos | (no subject)

(no subject)

In response to the slowing economy - what are some of YOUR ideas for staying afloat?

How has this downturn been affecting you, if it has?

What steps are you taking to contribute to the growth of our economy?

These are questions I'd like all of you to answer - even if you aren't in the US, since I know the credit problem is a bit of a world wide issue. Don't be shy :) I want to know.

I've put my answers in, as a comment to the post.

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For staying afloat...nothing yet really, except for taking as many strides possible to grow the money I already have, and to micromanage Matt's and my combined budget. I've traded down on some items I'd normally by from the store, but only if I see something comparable. I'm not really the type to freak out and "hunker down", since we're not swimming in debt, and I'd rather enjoy the life I do have, since we only live once.....

The downturn hasn't affected me beyond my annoyance at the "scare tactic" headlines, and advertising constantly trying to use it as a marketing ploy - just like the "with the price of gas" comments I constantly hear, they literally give me a headache! Now all of these "with the current economy" comments - it's all anyone talks about, and it's really grating.

To contribute to the growth of the economy? Well - I'm not freaking out and pulling all of my money from the bank...which would contribute to more financial institutions crashing. I'm still buying the same goods I would normally buy...I'm attending plays (local productions), and buying local goods to strengthen the local economy - strong local businesses and spenders spread to create stronger economies nationally and globally. That's my best advice really - put as much money as you can into your local economy.

Good, thought provoking questions, Ki!

In response to the slowing economy - what are some of YOUR ideas for staying afloat?
We aren't doing much more than normal. We're not buying lavish things or a lot of extras. That's mostly due to food and utilities costing more and trying to maintain a budget.

How has this downturn been affecting you, if it has?
It's scary to think of "what if" situations. Sam banks with WAMU, which is looking for a bailout, so that's scary. It's also affected the local job market, which is bad since I'm looking for a change.

What steps are you taking to contribute to the growth of our economy?
Just like you said, we're not pulling out all of our money. Neither of us has ever had the money to invest, but we're not pulling out money out of banks and hiding it in our mattress. We try to buy local to the Northwest, too.

I think one thing people can do to survive the slowing economy is to get a job in a field that will least likely be outsourced. My husband is lucky, he found a locksmith job that I feel is stable because it's a service that will always be needed, no matter what the economy is doing. Me, on the other hand, am in a different boat because I work in the software testing field. I just found out today that the contract I work on will most likely be secured for the next year, just barely. *sigh of relief*

Also, like you said, I think it's smart to cut down on unnecessary expenses.

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